International Sales Lift U.S. Chemical Earnings

Third-quarter earnings for U.S. basic and diversified chemical firms were mixed as strong overseas demand in the quarter offset a weak North American market. Elevated costs for oil, gas, and raw materials pressured margins in the quarter, and those costs are expected to remain volatile through the fourth quarter. Dow Chemical’s third-quarter net income fell 21%, to $403 million (42 cts/share), including $362-million in charges resulting from a change in German tax law as well as purchased in-process R&D. Earnings were 84 cts/share excluding the charges...

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